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AUDI AG Reports Prelim. Q1 Results; Withdraws Full-year Outlook - Quick Facts

AUDI AG (AUDVF.PK) said, based on preliminary figures, for the first quarter, it expects: operating profit of 15 million euros; and sales revenue of around 12.5 billion euros. The automotive net cash flow amounted to 1 billion euros. Automotive net liquidity amounted to 18 billion euros.

The company noted that the turbulent raw material and financial markets led to significant negative fair value impacts from commodity derivatives and negative currency effects, which burdened the first quarter 2020 result by 0.5 billion euros. The ongoing Covid-19 pandemic has also had a significant impact on Audi Group's business.

Due to the current developments, the Executive Board assumes that the full year outlook for 2020 can no longer be achieved.

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